The European Investment Bank (EIB), through its development arm EIB Global, announced on Thursday that it has granted Tunisia financing totalling pound 92 million in 2023, focusing on the construction of schools, electricity interconnection with Europe and support for micro-entrepreneurs, in partnership with the European Commission. The year 2023 also saw a 47% increase in disbursements for key development projects, totalling pound 172 million, compared with pound 117 million in 2022. This upward trend in disbursements reflects the increased mobilisation of technical assistance under the Economic Resilience Initiative, which facilitates the rapid and efficient use of funds, the EIB said in a press release. The Bank also noted that it has provided technical expertise and sector support, in particular through the European Union's support funds, in the areas of water and sanitation, transport and electricity networks. As a result of this cooperation, the National Sanitation Utility (ONAS) was granted pound 1. 2 million to strengthen its sanitation infrastructure, an important step towards improving water treatment services. In the transport sector, the Tunisian National Railways Company (SNCFT) received pound 1 million to electrify its trains and promote cleaner mobility solutions. In addition, a pioneering pumped-storage hydroelectric project was supported with EUR 1.5 million, underlining the EU's and the EIB's commitment to promoting the deployment of innovative and sustainable energy technologies. Speaking to the press on Thursday, Jean-Luc Revéreault, Head of the EIB's Representation in Tunisia, stressed that his institution was "positioning itself more than ever as a reliable partner for Tunisia, mobilising to meet the challenges facing the country, such as food security, energy independence and access to education." Support for entrepreneurs remained one of the Bank's priorities, he added. 'Tunisia's economy can only be revived by investing in sustainable and resilient infrastructure and mobilising the private sector wherever possible," he said. "Supporting a resilient and inclusive economy is at the heart of our mission at the EIB. In 2023, we continued our mobilisation in Tunisia by providing EUR 92 million for the creation of innovative education infrastructure and vital support for micro-entrepreneurs. These initiatives are essential for the country's sustainable development and we are determined to continue and expand this support in 2024", underlined EIB Vice-President Nicola Beer. Source: Agence Tunis Afrique Presse